Martin Armstrong basically right about $10,000 gold and $200 silver, but is wrong and right about what will happen with Europe’s third attempt

Martin Armstrong
(Picture from his ‘X’ page)

COGwriter

The price of gold and silver in US dollar terms dropped today.

Will they ever go back up?

Martin Armstrong (no direct relationship to the COG Armstrong family) made some predictions related to gold and Europe:

Gold’s Going To $10,000: Martin Armstrong Warns “Europe Is Desperate For War”

February 5, 2026

Legendary financial and geopolitical cycle analyst Martin Armstrong warned in late December to be ready for the “Perfect Storm for Debt, Economy, War, Gold & Silver.”

The rain and thunder started at the beginning of February, and the storm is just beginning.  Armstrong says, “This is where the volatility starts kicking in…”

”  I think Europe is so desperate for war.  My concern with the Trump Administration is I would not step a foot in there. …

“The volatility is in everything…”

“  You just saw the metals come down.  

They will probably consolidate before they go back up when people realize that Europe is going to go to war. 

What will happen?  The dollar will go up.  Metals will go up.  It will be like WWI and WWII. 

The US became the financial capital of the world because Europe blew its brains out twice. 

Now, they think the third time is going to be the charm…

  We have too much craziness on the horizon, from sovereign debt default to war.  You are just getting a pullback and consolidation…

I am looking at the $165 to $200 per ounce area for silver.  For gold, I am looking at resistance at the $8,500 per ounce level and, after that, $10,000 per ounce . . . in the next few years.” https://www.zerohedge.com/geopolitical/golds-going-10000-martin-armstrong-warns-europe-desperate-war

Martin Armstrong has a computer program called Socrates which he claims is very accurate in its predictions.

But he and his program do not seem to rely on, nor properly understand, biblical prophecies–particularly related to Europe.

Notice some comments from and about Martin Armstrong from December 2025:

The EU is not going to survive.  It’s going to collapse.  The computer says we are going into a stark global recession between 2024 and 2028.  The US will be the least affected, where Europe will probably be the worst.”

When it comes to metal, Armstrong says, “People who know war and crisis are coming are buying metals. . .. We have creative destruction.  You have AI coming in and you have unemployment rising and you have GDP rising. . .. You have shortages in commodities on top of this. . ..  Then you have geopolitical nonsense. …  Now, you have China putting in a ban on exporting silver as of January 1, 2026.  This is rather important.  China controls about 60% of the supply of silver. . .. This is one of the reasons why silver jumped up dramatically.  This is a perfect storm. … Socrates is still saying Europe will lose badly in a war with Russia.”

Armstrong sees a bull market for gold, silver and other metals for years ahead. 12/30/25  https://usawatchdog.com/perfect-storm-for-debt-economy-war-gold-silver-martin-armstrong/

Now, while there will be problems in Europe (cf. Daniel 2:41-43; Matthew 24:4-8), an even more united Europe will TEMPORARILY emerge.

Let’s briefly examine some of his predictions in the light biblical understandings.

First of all, the time will come when the USA dollar will collapse. Gold will hit $10,000 per ounce. It will ultimately go higher. Silver will hit records against the USA dollar. Silver prices will hit and then exceed $200 per ounce in USA dollars. Yes, both gold and silver may have price drops and fluctuations, but one day the USA dollar will be worth no more than the scrap value of the cotton-paper it is printed on.

The Bible shows that after the USA is destroyed, gold and silver will still have value:

39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain. …

43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels. (Daniel 11:39, 43)

Getting back to Martin Armstrong, second of all, he is right that European dominance failed in WWI and WWII.

But the actual third time, Europe will succeed, despite what Martin Armstrong put forth.

Notice something from the article Commentary on the Book of Daniel:

Perhaps it may be of historical interest to note that even though some modern Protestant (see The Dangerous Rise of Preterists) and Roman Catholic scholars believe that all of Daniel 11 was fulfilled (e.g. Kurz, W. What Does the Bible Say About the End Times? A Catholic View. Servant Books, Cincinnati. Nihil Obstat: Kistner H., Schehr T.P. Imprimi Potest: Link F., Paul J.M. Imprimatur: Carl K. Moeddel, Vicar General and Auxiliary Bishop, Archdiocese of Cincinnati, July 19, 2004, p. 68), that this is not consistent with the teachings of many earlier Greco-Roman Catholic teachers.

For one example, even though he confused the Antichrist as being the King of the North (as many others do), the late 4th century Roman Catholic Jerome felt that from at least verse 22 on, that a future fulfillment involving a King of the North would occur as Jerome wrote:

“And there shall stand up in his place one despised, and the kingly honor shall not be given him; and he shall come privately and shall obtain the kingdom by fraud. And the arms of the fighter shall be overcome before his face and shall be broken, and the prince of the covenant as well. And after friendly advances he shall deal deceitfully with him, and shall go up and shall overcome with a small people. And he shall enter into rich and prosperous cities, and shall do things which his fathers never did, nor his fathers’ fathers. He shall scatter their spoil and their booty and their wealth, and shall undertake plots against the best fortified cities, and shall continue thus for a time.” Up to this point the historical order has been followed…But those of our persuasion believe all these things are spoken prophetically of the Antichrist who is to arise in the end time…Verses 40, 41…the king of the North…(Jerome. Commentary on Daniel, Chapter 11. Translated by Gleason L. Archer. (1958). http://www.tertullian.org/fathers/jerome_daniel_02_text.htm viewed 12/20/08).

The future fulfillment view of the Continuing Church of God is consistent with what Herbert W. Armstrong and Jerome both taught.

11:22

22 With the force of a flood they shall be swept away from before him and be broken, and also the prince of the covenant.

Herbert Armstrong wrote:

Verse 22 — “the prince of the covenant” does not refer to Christ. This was the attempt of Antiochus to replace the Jewish high priest by another who would be subservient to him. (Armstrong HW. The Middle East in Prophecy. Worldwide Church of God, 1972)

That is also true for “the prince … who will confirm a covenant” mentioned in Daniel 9:26b-27. Furthermore, realize that Herbert Armstrong taught a DUAL FULFILMENT from at least Daniel 11:21 on–hence he is clearly teaching that Jesus is NOT the prince of the covenant, and the one who is coming will be a conqueror who will bring abomination to Jerusalem. Yet, many once part of the old Worldwide Church of God do not understand that.

11:23

23 And after the league is made with him he shall act deceitfully, for he shall come up and become strong with a small number of people. 24 He shall enter peaceably, even into the richest places of the province; and he shall do what his fathers have not done, nor his forefathers: he shall disperse among them the plunder, spoil, and riches; and he shall devise his plans against the strongholds, but only for a time.

Consider that the German-European alliance was defeated in WWI and WWII. So, the fathers (WWII) and forefathers (WWI) of the final King of the North failed to defeat the UK and USA those two times. But notice that he is prophesied to be successful against the strongholds, in this case meaning the military alliance of the USA and UK. The third time basically is WWIII and the Germanic-European King of the North Beast power will succeed per Daniel 11:24 and Daniel 11:39 (see also USA in Prophecy: The Strongest Fortresses).

Herbert W. Armstrong taught:

Verses 23-24 — although only a few were with him at first, yet by this “Roman manner,” by deceit and flattery, he crept into power and prospered. He also invaded Galilee and Lower Egypt. His fathers, the former kings of Syria, had favored the Jews, but says Rawlinson, page 255, they “were driven to desperation by the mad project of this self-willed monarch.”

But what about a future fulfillment?

Well, it looks like the final King of the North will make a deal.

As far as a small number of people, one such small number appears to be those of Revelation 17:12. Notice:

12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)

Other translations of Daniel 11:23-24 refer to him being involved in a ceasefire (The Message), alliances (DRB, NJB, NLT), or a treaty (CEV, GNT, WEB), which is consistent with Daniel 9:26-27.

Let’s look at verse 24 again:

24 He shall enter peaceably, even into the richest places of the province; and he shall do what his fathers have not done, nor his forefathers: he shall disperse among them the plunder, spoil, and riches; and he shall devise his plans against the strongholds, but only for a time.

Notice that “he shall do what his fathers have not done, nor his forefathers.” This looks like a reference to World War I and World War II–yet we see the King of the North Beast will win the next time, which could be called World War III (WWIII).

Notice another scripture that discuss this leader:

25 And through his policy also he shall cause craft to prosper in his hand; and he shall magnify himself in his heart, and by peace shall destroy many: he shall also stand up against the Prince of princes; but he shall be broken without hand. (Daniel 8:25, KJV).

So this leader gives people the impression that there will be “peace” and is involved with peace. This is the same leader who makes some type of deal in verse 23 and that confirms the covenant in Daniel 9:27. The term is translated as “peace” in Daniel 8:25 is from the Hebrew term shalvah and essentially means security. In other words, this leader will destroy “many” who are under the impression that they are secure because of some type of security and/or trade arrangement. Such arrangements are now commonly referred to as peace deals or treaties. Land swaps or changes to territories are likely.

As far as verse 24 goes for the future, allow me to mention some speculation as well as a scriptural connections to its future fulfillment.

Notice that the Beast will enter peaceably. I have long speculated that this may because he may invade under the guise of a NATO or similar exercise.

The Beast will, to some degree, be considered a friend.

Well, the Book of Lamentations warns that the one who was great will be betrayed by friends who became enemies:

1 How lonely sits the city
That was full of people!
How like a widow is she,
Who was great among the nations!
The princess among the provinces
Has become a slave!

2 She weeps bitterly in the night,
Her tears are on her cheeks;
Among all her lovers
She has none to comfort her.
All her friends have dealt treacherously with her;
They have become her enemies. (Lamentations 1:1-2)

The United States has been considered great among the nations, as was the United Kingdom when it had the British Empire (which was the largest land empire in human history).

Notice that the great is shown to be conquered by friends who became enemies.

So, yes, Europe will end up being militarily successful in what could be called its third attempt.

But is Martin Armstrong correct that the European Union collapse?

Perhaps with the entity with that name will. But that is not assured (see also The European Union and the Seven Kings of Revelation 17).

What is assured is the after facing various crises, Europe will go through two reorganizations and a strong leader will emerge:

12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)

The final European Beast leader, who is also known as the final King of the North, will ultimately destroy the USA (Daniel 11:39) and its British-descended allies (cf. Daniel 8:24-25; 11:24), as well as conquer a coming power from the Middle East and North Africa (Daniel 11:40-43). The world will marvel when Europe, a power dismissed as basically dead, does this:

Continuing Church of God rendering of the Beast that rises
from the sea (Revelation 13:1-2 and 17:3)

1 Then I stood on the sand of the sea. And I saw a beast rising up out of the sea, having seven heads and ten horns, and on his horns ten crowns, and on his heads a blasphemous name. 2 Now the beast which I saw was like a leopard, his feet were like the feet of a bear, and his mouth like the mouth of a lion. The dragon gave him his power, his throne, and great authority. 3 And I saw one of his heads as if it had been mortally wounded, and his deadly wound was healed. And all the world marveled and followed the beast. 4 So they worshiped the dragon who gave authority to the beast; and they worshiped the beast, saying, “Who is like the beast? Who is able to make war with him?” (Revelation 13:1-4)

The sea referred to above is called the “Great Sea” in Daniel 7 associated with the Beast. The “Great Sea” that bordered the ancient lands of Israel (Numbers 34:6-7; Joshua 1:4; 9:1; 23:4; Ezekiel 47:13-16) is the Mediterranean Sea–and that is the sea that Daniel was referring to.

The prophecy in Revelation 13 is referring to a rearmed European Babylonian power, who will be TEMPORARILY successful.

Let me add that Martin Armstrong is correct that a Russian-led force will one day defeat Europe.

Several parts of the Bible also show that this “Babylonian/European” empire will be destroyed by a northern power (involving Russia and its allies as Russia is really the only powerful nation north of Europe):

2 “Declare among the nations,
Proclaim, and set up a standard;
Proclaim — do not conceal it —
Say, ‘Babylon is taken, Bel is shamed.
Merodach is broken in pieces;
Her idols are humiliated,
Her images are broken in pieces.’
3 For out of the north a nation comes up against her,
Which shall make her land desolate,
And no one shall dwell therein.
They shall move, they shall depart,
Both man and beast. (Jeremiah 50:2-3)

50:41 “Behold, a people shall come from the north,
And a great nation and many kings
Shall be raised up from the ends of the earth.
42 They shall hold the bow and the lance;
They are cruel and shall not show mercy.
Their voice shall roar like the sea;
They shall ride on horses,
Set in array, like a man for the battle,
Against you, O daughter of Babylon.

43 “The king of Babylon has heard the report about them,
And his hands grow feeble;
Anguish has taken hold of him,
Pangs as of a woman in childbirth …”(Jeremiah 50:41-43).

Thus, the European empire (the “daughter of Babylon”) is to be destroyed by a northern (apparently Russian led) force.

Notice that both Russia and Iran (one part of Elam below) are apparently going to terrorize, and this would seem to include terrorizing the end-time Europeans (cf. Jeremiah 51:43):

24 “There is Elam and all her multitude,
All around her grave,
All of them slain, fallen by the sword,
Who have gone down uncircumcised to the lower parts of the earth,
Who caused their terror in the land of the living;
Now they bear their shame with those who go down to the Pit.
25 They have set her bed in the midst of the slain,
With all her multitude,
With her graves all around it,
All of them uncircumcised, slain by the sword;
Though their terror was caused
In the land of the living,
Yet they bear their shame
With those who go down to the Pit;
It was put in the midst of the slain.

26 “There are Meshech and Tubal and all their multitudes,
With all their graves around it,
All of them uncircumcised, slain by the sword,
Though they caused their terror in the land of the living.
27 They do not lie with the mighty
Who are fallen of the uncircumcised,
Who have gone down to hell with their weapons of war;
They have laid their swords under their heads,
But their iniquities will be on their bones,
Because of the terror of the mighty in the land of the living.
28 Yes, you shall be broken in the midst of the uncircumcised,
And lie with those slain by the sword. (Ezekiel 32:24-28)

Jeremiah 50:1-3 and 51:7–11 indicate that a northern nation or northern nations (Jeremiah 50:9,41) (those Ezekiel 38/39 refers to those of the”far north”; only Scandinavia, Inuit areas, or countries once in the old Soviet Union are north of the King of the North) will destroy Babylon and could be in the forefront of what may be a nuclear attack on Rome itself (cf. Revelation 18:9–10). And although many nations are north of Jerusalem (and most prophetic biblical directions seem to be centered in Jerusalem), it would seem that the expression “far north” is pointing to those that inhabit the northern extremes of Eurasia. The Scandinavian nations, such as Finland, would be expected to be hit quite hard, but so will much of end-time Europe.

The fact that verses related to the destruction of end time Babylon mention the Medes (Jeremiah 51:11,28), this shows that the Medes must be associated with a northern power–which thus shows that the Russians are biblically considered to be Medes.

Herbert Armstrong wrote in a co-worker letter dated November 16, 1961:

I have said repeatedly that the Russians in nature are like their ancient predecessors, the Medes and Persians—represented in the prophecy of Daniel 7 …

In that co-worker letter, Herbert Armstrong mentioned Russia acting like the ancient Medes. The old Worldwide Church of God, under his direction, published the following:

5. What else can we know about the superarmy as it attacks the armies of the beast power? With millions being slain by nuclear war, how will a man’s life be valued? Isa. 13:12-16. Will this destruction be wrought by the descendants of the Medes and their allies, who are living to the northeast and east of modern Babylon? Verses 17-18.

COMMENT: The Medes and Persians under King Cyrus captured Babylon in 539 B.C. The descendants of the Persians are in Iran and the Medes in the Ukraine today.

5. Is Babylon (God’s name for the political and religious system that has sprung from the ancient city of Babylon and has been perpetuated by Satan in the Roman Empire and its restorations) prophesied to fall a second time? Rev. 18:2; Isa. 21:9.

COMMENT: The counterattack by the modern-day Soviet-led descendants of the Medes and their allies will contribute in a major way to the fall of the beast, spoken of here as “Babylon.” (Lesson 28 – Feast Of Trumpets – Why World Won’t End in Cosmocide. Ambassador College Bible Correspondence Course, 1984)

Notice also that the Bible shows Babylon tied together with birth pains/pangs to a group from a far country and the Medes:

1 The burden against Babylon which Isaiah the son of Amoz saw.

2 “Lift up a banner on the high mountain, Raise your voice to them; Wave your hand, that they may enter the gates of the nobles. 3 I have commanded My sanctified ones; I have also called My mighty ones for My anger–Those who rejoice in My exaltation.” 4 The noise of a multitude in the mountains, Like that of many people! A tumultuous noise of the kingdoms of nations gathered together! The LORD of hosts musters The army for battle. 5 They come from a far country, From the end of heaven–The LORD and His weapons of indignation, To destroy the whole land. 6 Wail, for the day of the LORD is at hand! It will come as destruction from the Almighty. 7 Therefore all hands will be limp, Every man’s heart will melt, 8 And they will be afraid. Pangs and sorrows will take hold of them; They will be in pain as a woman in childbirth; They will be amazed at one another; Their faces will be like flames (Isaiah 13:1-8).

17 “Behold, I will stir up the Medes against them, Who will not regard silver; And as for gold, they will not delight in it. 18 Also their bows will dash the young men to pieces, And they will have no pity on the fruit of the womb; Their eye will not spare children. 19 And Babylon, the glory of kingdoms, The beauty of the Chaldeans’ pride, Will be as when God overthrew Sodom and Gomorrah. (Isaiah 13:17-19)

Thus, both the accounts in Jeremiah and Isaiah seem related to the same invaders. This is referring to an end time confederation that has a distance to travel–apparently a type of union of powers from the east including Russia, who is also the major power of the far north.

Furthermore, a “far country” also seems to be tied to the powers of the east elsewhere in Isaiah:

11 Calling a bird of prey from the east, The man who executes My counsel, from a far country. Indeed I have spoken it; I will also bring it to pass. I have purposed it; I will also do it. (Isaiah 46:11)

Those called Medes are also shown to destroy the final Babylon according to both Isaiah and Jeremiah:

1 The burden against Babylon which Isaiah the son of Amoz saw…

17 “Behold, I will stir up the Medes against them,
Who will not regard silver;
And as for gold, they will not delight in it.
18 Also their bows will dash the young men to pieces,
And they will have no pity on the fruit of the womb;
Their eye will not spare children.
19 And Babylon, the glory of kingdoms,
The beauty of the Chaldeans’ pride,
Will be as when God overthrew Sodom and Gomorrah. (Isaiah 13:1, 17-19)

11 Make the arrows bright!
Gather the shields!
The Lord has raised up the spirit of the kings of the Medes.
For His plan is against Babylon to destroy it,
Because it is the vengeance of the Lord,
The vengeance for His temple. (Jeremiah 51:11)

The fact that there are multiple kings of the Medes indicates that multiple powers involved in this end time confederation represent multiple governments. Perhaps, such as Russia, Belarus, Crimea, etc.

However, that will not be until years AFTER the European Beast power conquers the USA.

But changes will come to Europe.

You can count on biblical prophecies related to that.